Zacks Investment Research upgraded shares of Brady Co. (NYSE:BRC) from a hold rating to a buy rating in a research report released on Wednesday, November 1st. Zacks Investment Research currently has $43.00 price target on the industrial products company’s stock.
According to Zacks, “Brady Corporation is a manufacturer and marketer of identification solutions and specialty coated materials. Their products consist stock and custom items as well as identification systems that are used to create a safer work environment for employees, improve production and operating efficiencies and increase the utilization of assets through tracking and inventory process controls. Major product categories include: industrial identification and data collection products; safety and facility identification products; and original equipment manufacturers components. “
A number of other analysts have also issued reports on the stock. SunTrust Banks, Inc. restated a hold rating and issued a $38.00 price target on shares of Brady in a research note on Friday, October 27th. Robert W. Baird restated a hold rating and issued a $36.00 price target on shares of Brady in a research note on Friday, October 13th. Finally, Bank of America Corporation boosted their target price on shares of Brady from $33.00 to $34.00 and gave the company an underperform rating in a research note on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Brady currently has an average rating of Hold and an average price target of $39.20.
Brady (NYSE:BRC) last issued its quarterly earnings results on Thursday, November 16th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $290.15 million during the quarter, compared to analyst estimates of $286.75 million. Brady had a net margin of 8.90% and a return on equity of 14.21%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. analysts forecast that Brady will post 1.93 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.2075 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.83 annualized dividend and a yield of 2.16%. Brady’s payout ratio is 43.92%.
In other news, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $36.75, for a total transaction of $882,000.00. Following the completion of the transaction, the director now owns 371,509 shares of the company’s stock, valued at $13,652,955.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 15.60% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its holdings in shares of Brady by 3.0% during the second quarter. Northern Trust Corp now owns 622,251 shares of the industrial products company’s stock valued at $21,094,000 after acquiring an additional 18,411 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Brady by 6.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 308,143 shares of the industrial products company’s stock valued at $11,910,000 after acquiring an additional 19,746 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Brady during the second quarter valued at $5,218,000. BlackRock Inc. boosted its holdings in shares of Brady by 1.3% during the second quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock valued at $194,270,000 after acquiring an additional 71,895 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Brady by 10.5% during the second quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock valued at $123,045,000 after acquiring an additional 345,775 shares during the period. 74.47% of the stock is owned by institutional investors.
Brady Company Profile
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.
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